Tesla returns to the "trillion-dollar market capitalization club."
On December 22, local time, Tesla surged more than 7%, the largest one-day increase since November 1. Not only did the stock price return above $1,000, but the market value soared by $70.621 billion (about 449.8 billion yuan) on the same day. The turnover of the day exceeded 30 billion US dollars, ranking first in the us stock turnover.
Analysts said that Tesla CEO Musk's statement that "enough stocks have been sold" was interpreted by the market as good news, and Tesla's stock price was boosted.
Tesla soared
On December 22, Tesla's stock price ushered in a long-lost surge.
According to Wind data, Tesla surged 7.49% to a stock price of $1,008.87, with the latest market capitalization at $1.01 trillion. According to Futu data, Tesla's turnover exceeded $30 billion that day.
It is worth mentioning that on December 22, as Tesla's stock price rose, some new energy vehicle stocks in the US stock market rose. According to Wind data, Sono surged 13.82%, Tucson Future (TSP. US) rose more than 5 percent, and Xiaopeng Motors rose more than 4 percent.
Musk reduced his holdings or ended
On December 22, Musk said in an interview with the media that he has sold enough stock so far to nearly complete the target of reducing his holdings by 10%.
Musk sold 583611 shares of Tesla stock on Dec. 21, valuing it at about $528 million, according to U.S. Securities and Exchange Commission (SEC) filings. That brings the total number of shares sold to 13.5 million, about 81 percent of the number he previously promised to sell.
Last month, Musk asked fans on social platforms on whether they should sell 10% of Tesla stock, and the result was 58% support. At the time, Musk held about 170 million shares of Tesla stock, and selling 10 percent equated to about 17 million shares.
In fact, Musk's sell-off has put a huge strain on Tesla's stock price. According to Wind data, Tesla's stock price has been lower since closing at a record high on November 4; As of Dec. 20, Tesla shares had fallen nearly 26 percent from their highest point.
Wedbush analyst Dan Ives believes that Musk's statement has eliminated the selling pressure on Tesla's stock price, and investors have refocused on the fundamental drivers.